Arotech Upgraded by B. Riley to “Buy” (ARTX)
Arotech (NASDAQ:ARTX) was upgraded by investment analysts at B. Riley from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $5.00 target price on the stock. B. Riley’s price target suggests a potential upside of 63.93% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Arotech (NASDAQ:ARTX) opened at 3.05 on Monday. Arotech has a one year low of $1.00 and a one year high of $6.61. The stock’s 50-day moving average is $4.33 and its 200-day moving average is $3.25. The company has a market cap of $59.7 million and a price-to-earnings ratio of 25.28. Arotech also was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totalling 2,034,734 shares, a decline of 33.6% from the April 15th total of 3,063,769 shares. Based on an average daily volume of 1,261,404 shares, the short-interest ratio is presently 1.6 days. Currently, 12.2% of the shares of the stock are sold short.
Arotech (NASDAQ:ARTX) last released its earnings data on Monday, March 31st. The company reported ($0.03) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.02 by $0.05. The company had revenue of $20.90 million for the quarter, compared to the consensus estimate of $21.70 million. During the same quarter last year, the company posted ($0.09) earnings per share. Analysts expect that Arotech will post $0.21 EPS for the current fiscal year.
Arotech Corporation is a defense and security products and services company, engaged in three business areas: high-level armoring for military and nonmilitary air and ground vehicles; interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military.
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